Litecoin climbed to the 4th position in terms of market capitalization, adding 14%, after the news about the partnership with MimbleWimble.
Litecoin showed an impressive growth of more than 14%, after the statement on the potential implementation of solutions for privacy and scalability together with MimbleWimble.
MimbleWimble is a privacy Protocol that is based on the blockchain, with an emphasis on vysokuyu scalability. He tracked the information in the transaction, but checks the private keys of the sender and recipient. The Protocol is more efficient in comparison with the similar technology implemented in zcash for, because the blockchain a more compact — 30% more than Bitcoin.
MimbleWimble – a spell for the blockchain
MimbleWimble Protocol was proposed by an anonymous user in the chat of the developers of Bitcoins by the name of Tom Elvis Jedusor, which is the name of fictional character Harry Potter, Voldemort. The phrase itself MimbleWimble is the name of a spell used in Harry Potter. Presenting the Protocol, Jedusor left the link to the official document, which stated that when the Protocol is MimbleWimble, privacy and the scalability of the Bitcoin network can be significantly improved.
Protocol MimbleWimble is currently used and recently launched Grincoin Beam. Grin is a model of funding based community, while the Beam is a commercial company.
Litecoin benefits from cooperation
Litecoin Foundation reports that cooperation with the Beam will convert to LTC option MimbleWimble and Vice versa, which will give the opportunity to observe full confidentiality.
Many in Twitter were delighted with the announcement and what it could mean for the future of LTC.
However, as noted by one user, it is not potential sales, negotiations only begin. However, on the background of this news, LTC is now at the 4th place among the leading cryptocurrency by market capitalization, up 14% on 24-hour charts.
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Tags: Litecoin MimbleWimble